2214 5th Street, Tillamook, OR 97141
$799,999
2214 5th Street, Tillamook, OR 97141
11,444 sqft
Building Size
0.25 acres
Lot Area
Details:
Description:
Introducing a rare multifamily investment opportunity in the heart of Downtown Tillamook. This 13-unit apartment property consists of two buildings situated on approximately 0.25 acres and offers a desirable mix of one- and two-bedroom units. Located within walking distance of downtown employers, shopping, dining, and services, the property benefits from strong renter demand and convenient access to major thoroughfares throughout Tillamook County.
Built in 1935 and spanning approximately 11,444 square feet, the asset features an efficient unit mix of nine 1-bedroom units and four 2-bedroom units, with average unit sizes of approximately 594 square feet. The property's downtown location provides tenants with easy access to employment centers, retail amenities, and coastal recreation destinations that make Tillamook a year-round draw for residents and visitors alike.
Positioned near Pacific Avenue, Nestucca Avenue, and other primary traffic corridors carrying over 5,000 vehicles per day, the property enjoys excellent connectivity and visibility within the market. The surrounding area includes a balanced mix of renter- and owner-occupied households, supporting long-term multifamily demand.
This offering presents investors with the opportunity to acquire a stabilized coastal Oregon multifamily asset with in-place cash flow, an attractive unit mix, and a strategic downtown location in one of the state's most recognizable coastal communities.
Coastal Multifamily Asset
13-unit apartment property in one of Oregon’s recognizable coastal communities
Lease-Up Upside
Pro forma shows NOI increasing from $58,402 to $70,083 as occupancy improves
In-Place Income
2025 gross rental income of $109,092 with 2025 NOI of $70,788
Practical Unit Mix
One- and two-bedroom units support a broad tenant base
Coastal Multifamily Asset
13-unit apartment property in one of Oregon’s recognizable coastal communities
Lease-Up Upside
Pro forma shows NOI increasing from $58,402 to $70,083 as occupancy improves
In-Place Income
2025 gross rental income of $109,092 with 2025 NOI of $70,788
Practical Unit Mix
One- and two-bedroom units support a broad tenant base
Documents:
| Title | ||
|---|---|---|
| [Compressed] Cameron Schwab - OM - 2214 5th St Tillamook, OR | ||
| Cameron Schwab - Flyer - 2214 5th St Tillamook, OR |
Location
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